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> USDT came to a near collapsing a few weeks ago The author has no evidence that this is true. USDT temporarily trading under $1 during extreme market conditio
by prvit 4y ago
> USDT came to a near collapsing a few weeks ago
The author has no evidence that this is true. USDT temporarily trading under $1 during extreme market conditions does not in any way suggest that Tether ever came near to stopping 1:1 redemptions.
- traveler01 4y agoAccording to Tether, USDT was never close to collapsing. Even USDD which depeged a bit still holding strong at 0,97$. Considering how unstable the market is I find that pretty good.
- prvit 4y agoI wouldn’t place much value on what Tether has to say. However, market prices can be irrational and will not tell you if it’s close to collapsing or not. It’s in fact likely that Tether printed huge amounts of money by buying up large amounts of USDT at <$1
- traveler01 4y ago> I wouldn’t place much value on what Tether has to say. However, market prices can be irrational and will not tell you if it’s close to collapsing or not. I don't think neither USDT or USDC are risking collapse. I'd be more worried with the state of global economy...
- rvz 4y agoExactly. And USDT is not indicative of all stablecoins. For instance for fiat-backed stablecoins, USDC is still doing better than USDT in maintaining its peg and being more transparent than Tether was. But both did not have a full depegging like what happened to UST which is an algorithmic stablecoin. Thus, This post looks like a blanket outrage bait to get the worst out of either side.